Bitcoin Price Flat as May US Jobs Report Beats Estimates
Bitcoin remained stable after the Bureau of Labor Statistics reported a steady jobs market in May, with 139,000 jobs added, surpassing the forecast of 125,000. Bitcoin peaked at over $105,000 but fell 1.5% to $103,919. Major altcoins reacted more significantly, with Ethereum down 5.5% to $2,481.68, XRP down 2.6%, Solana down 1.8%, and Dogecoin down 6.4% to $0.1789. Analysts noted signs of fatigue in Bitcoin's rally amid macroeconomic uncertainties. Digital assets declined this week due to weak economic indicators and rising trade tensions. The jobs report indicated a slowdown compared to April's 177,000 jobs and a year-to-date average of 144,000. The ADP report earlier showed hiring at a third of expectations, and the non-manufacturing Services PMI contracted to 49.9%. Bitcoin has dropped 5.4% over the past two weeks, with other cryptocurrencies also experiencing declines.
